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he committed for several months. it s been 20 years since the us led coalition began its war in iraq to topple the dictator saddam hussein we ll assess the legacy. and valencia s streets come to life for a five day festival, celebrating the spanish city s culture, history and people. hello and welcome to the programme. switzerland s biggest bank, ubs, has agreed to take over its troubled rival, credit swiss. the rescue deal follows a weekend of emergency talks between the two banks, after credit suisse saw its value plummet over the past week. banking regulators hope the deal will restore confidence to the financial markets. credit suisse had been caught up in the market uncertainty triggered by the collapse, nine days ago, of america s silicon valley bank. here s the swiss president, speaking at a press conference. on friday, the liquidity outflows and market volatility showed it was no longer possible to restore the necessary confidence, and that the swift and st ....
today a war criminal, whose name is vladimir putin, visited the scene of a crime he committed for several months. it s been 20 years since the us led coalition began its war in iraq to topple the dictator saddam hussein. we ll assess the legacy. and valencia s streets come to life for a five day festival celebrating the spanish city s culture, history, and people. switzerland s biggest bank ubs has agreed to take over its troubled rival, credit suisse. the rescue deal follows a weekend of emergency talks between the two banks, after credit suisse saw its value plummet over the past week. banking regulators hope the deal will restore confidence to the financial markets. credit suisse had been caught up in the market uncertainty triggered by the collapse, nine days ago, of america s silicon valley bank. here s the swiss president speaking at a press conference. on friday, the liquidity outflows and market volatility showed it was no longer possible to restore the necessar ....
a weekend of fraught negotiations in switzerland, as the authorities there, its central bank and leaders of its two biggest banks tried to prevent another damaging financial crisis. late on sunday, it was announced the troubled bank credit suisse was being taken over by its rival ubs in a government backed rescue worth more than $3.1 billion. that s less than half the value of credit suisse at the close of trade on friday. the deal s been widely welcomed, including by the bank of england, the european central bank and by the us federal reserve. but not everyone s happy. credit suisse bondholders have lost $17 billion, shares in both banks have slumped, and there has been a sell off of banking shares across the markets today. here s the chief executive of ubs explaining the rationale behind the deal. translation: it means we bring back stability and security for credit suisse clients, but also that we keep the reputation of the swiss financial centre high. and finally ....
So why is this deal so important? here s our business editor, simonjack. well, how come credit suisse became the biggest and most important casualty of a situation that has already seen the failure of two mid size us banks, silicon valley and signature bank, and an emergency 30 billion industry whip round for another, first republic bank? the main reason behind it all is this global interest rates, these are us interest rates, after many years have been close to zero, have rocketed, as countries have tried to bring down inflation, caused mainly by higher energy prices, as russian energy was shut off or shunned. now that sudden change has hit the value of some of even the safest investments the banks keep some of their money in, so the big ....
That has been lacking in financial markets recently, and for best managing the risk to our country and its citizens. so what is going on? here s our business editor simonjack. well, how come credit suisse became the biggest and most important casualty of a situation that has already seen the failure of two mid size us banks, silicon valley and signature bank, and an emergency 30 billion industry whip round for another, first republic bank? the main reason behind it all is this global interest rates, these are us interest rates, after many years have been close to zero, you can see there, have rocketed, as countries have tried to bring down inflation, caused mainly by higher energy prices, as russian energy was shut off or shunned. now that sudden change has hit the value of some of even the safest investments the banks keep some of their money in, so the big question is are we back to 2008, is this a rerun of the financial crisis? well, this is precisely what the authorities ....